AHL Venture Partners, an investment firm focused on African private markets, has reached the second close of its AHL Africa Credit Fund I at $45.5 million, bringing the fund closer to its $70 million fundraising target.

The latest close includes a new $15 million debt commitment from Ceniarth LLC, a family office that provides long-term capital to underserved communities. The commitment brings total capital raised from family offices and family foundations to $45.5 million.

Ceniarth commitment strengthens Africa credit strategy

In August 2026, Ceniarth provided a $5 million senior loan to the fund, alongside a co-investor that contributed an additional $10 million, creating a combined $15 million senior facility.

The fund, which first closed in May 2026 with backing from three family offices, was established to scale AHL’s private credit strategy and attract capital from high-net-worth individuals, family offices, local asset managers and foundations seeking exposure to African credit markets.

The vehicle targets risk-adjusted returns while directing capital toward businesses with measurable developmental impact.

AHL expands private credit footprint

AHL Venture Partners has advised the AHL Charitable Foundation since 2007, supporting investments in African businesses through debt, selected equity investments and funds.

AHL Venture sharpened its focus on private credit in 2020, arguing that debt could provide a more liquid and risk-managed route for investors seeking both financial returns and long-term development impact.

Since then, through the AHL Foundation and AHL-led syndications, the firm has deployed more than $110 million in debt investments across Africa, focusing on financial inclusion, climate action, and sustainable food and agriculture.

Fund targets high-growth African businesses

The AHL Africa Credit Fund provides senior secured, mezzanine and bridge financing ranging from $2 million to $10 million to high-growth, profitable businesses across East, West and Southern Africa.

The financing is structured to meet individual company requirements while incorporating protections expected by institutional and private investors.

AHL sees the opportunity in African private credit as a matching challenge rather than a shortage of businesses or available capital. The firm aims to connect high-growth companies addressing critical market needs with investors seeking structured exposure to African private markets.

Rosanne Whalley, CEO of AHL Venture Partners, said the firm’s objective is to work with capital allocators to ensure more funding flows consistently into African private markets.

The fund remains open to additional commitments, with AHL targeting a final close in the second quarter of 2027.